Bitcoin is attracting attention again, breaking key levels and setting a new record. Analysts share their forecasts on the further price movement.
Current Bitcoin Level Analysis
Currently, Bitcoin is hovering around the $116,894 mark, close to the 0.27 Fibonacci level at $115,937, which acts as a resistance zone. A strong close above this line on a weekly basis could confirm the breakout.
Expansion Target Levels
Analyst Crypto Patel highlights several key price targets based on Fibonacci levels. The initial target is around $121,722, followed by more aggressive targets at $126,236, $134,983, and possibly $140,344, indicating a further 20% rise for BTC.
Long-Term Bitcoin Outlook
According to Crypto Patel, while the path to $140,000 may be winding, market structure indicates the possibility of reaching this figure. Bitcoin's future will depend on its reaction to these critical levels, but current signals suggest a continued bullish trend.
Bitcoin shows strength, and if the expansion continues, there is a chance it will rewrite records again, passing through significant price levels.
